Liga Asuransi – The Indonesian insurance industry is currently undergoing a significant transformation. This includes major plans to consolidate state-owned insurance companies, increased law enforcement by the Financial Services Authority (OJK), and strong government signals regarding the implementation of mandatory Third Party Liability (TPL) insurance. All of this demonstrates that the insurance sector is increasingly receiving serious attention for systemic and sustainable strengthening. In this article, we summarize seven of the hottest and most relevant news stories from the insurance world, which you should know if you’re an industry player, business owner, or simply want to stay up-to-date on developments in the sector.
Revealed! The State-Owned Enterprise’s Grand Plan That’s Making the Insurance Industry Boom
Plans for the consolidation or merger of state-owned insurance and reinsurance companies are increasingly being discussed. This discourse has received a positive response from various parties, including the Indonesian General Insurance Association (AAUI). Budi Herawan, AAUI Chairman, believes that the Daya Anagata Nusantara Investment Management Agency (BPI), as a shareholder, has certainly conducted a thorough review of this plan.
Budi sees this consolidation as a strategic move that will have a positive impact. He believes that combining several companies will strengthen capital capacity, thus making the industry more resilient amid market dynamics. He also added, “Rather than each company requesting additional capital, it’s better to just do it once,” he said.
On the other hand, Budi also highlighted that this consolidation will encourage an increased national industrial competitiveness, especially in the corporate market, domestic reinsurance, and other strategic sectors. However, he reminded the importance of maintaining principles of healthy competition(fair competition) so as not to marginalize players from the private sector.
OJK Still Awaiting Detailed Concept
The Financial Services Authority (OJK), through Ogi Prastomiyono, Chief Executive of Insurance, Guarantee, and Pension Fund Supervision, stated that the OJK is still awaiting an official concept from Danantara. Ogi explained that once the concept is received, the OJK will immediately discuss it with relevant parties.
Ogi also believes this consolidation could have a positive impact on the industry, as it would strengthen company resilience and capacity. “If there are several similar companies scattered around, they become smaller. If they become one, it would be better,” he explained.
He added that this consolidation aims to make industry players stronger in terms of capitalization and risk management implementation. This will ultimately ensure more sustainable economic growth. However, he did not deny the pros and cons, particularly regarding share ownership in each company.
Both AAUI and OJK agree that this consolidation is an important step to strengthen the national insurance industry. However, its implementation needs to be designed with the principles of transparency and accountability involving all stakeholders.
OJK Takes Firm Action! Hundreds of Fraudulent Accounts Successfully Blocked
The Financial Services Authority (OJK) continues to demonstrate its commitment to maintaining the integrity of the financial services industry in Indonesia. As of June 2025, the OJK had issued 1,793 administrative sanctions against business actors found to have violated regulations. This number represents a decrease from the previous year, which reached 3,141 sanctions during the same period.
Deputy Chairman of the OJK Board of Commissioners, MirzaAdithyaswara, said that in its investigative function, OJK has handled156 thingsuntil July 31, 2025. These cases were dominated by the banking sector with 130 cases, followed by 20 cases in the insurance and pension fund sector, 5 cases in the capital market, and 1 case in a financing institution. Of these cases,129 cases have been decided by the court, of which 120 have permanent legal force (inkracht) and the remaining 9 are still in the classification process.
Frequent Legal Cases
Mirza Adithyaswaraalso explains several types of violations that dominate. In the sector banking, the violations that often occur are false records and non-compliance with regulations. Meanwhile, in the sectorinsurance, the crimes discovered were related to invalid periodic reports and cases of policy embezzlement. As for the capital market, the violations identified were pseudo transactions and market embezzlement.
Beware! Fraud Losses Reach Trillions of Rupiah
In addition to law enforcement, the OJK is also actively handling reports of fraud that harm the public. Since November 22, 2024, the OJK has received 204,011 fraud reports related to the financial services sector. These reports come from various channels, both through financial services companies and directly to the IASC.
The Chief Executive of the Financial Services Authority’s Supervisory Agency for Business Conduct, Education, and Consumer Protection, Friderica Widyasari Dewi, added that the report involved 326,283 accounts, where 66,271 of them have been successfully blocked. The total reported loss reachedRp. 4.1 trillion, with the victim’s funds successfully blocked amounting toRp. 348.3 billion.
This data shows that fraud in the financial sector remains a serious threat to society. Therefore, it is crucial for consumers to remain vigilant and cautious in all financial transactions.
Insurance Industry Assets Reach Rp 1,163 Trillion, OJK Reveals the Secret to Its Growth!
The Financial Services Authority (OJK) reported positive news from the Indonesian insurance industry. Throughout June 2025, total assets of the insurance industry reached Rp 1,163.11 trillion, an increase of 3.27% compared to the previous year. This figure indicates stable and positive growth in the financial sector.
Ogi Prastomiyono, Chief Executive of the Insurance, Guarantee and Pension Fund Supervisory Agency of the OJK, explained that the assets of commercial insurance reach Rp. 939.88 trillion, up 3.58% year-on-year. Although life insurance premium income contracted slightly by 0.57%, the general insurance and reinsurance sector actually showed positive growth, at 2.04%.
Insurance Companies Remain Strong
The stability of the insurance industry is also evident in its still very solid capitalization. The Financial Services Authority (OJK) noted Risk Based Capital (RBC)The life insurance industry’s ratio was 474.77%, and general insurance and reinsurance at 315.98%. These figures are well above the OJK’s minimum threshold of 120%. This indicates that insurance companies have strong resilience in the face of risk.
In addition, OJK also highlighted the growthnon-commercial insurancewhich includes BPJS Health and BPJS Employment. Its total assets reach Rp. 222.3 trillion, grew 1.73% year-on-year. This performance was supported by growth in life insurance premiums of 1.05% and general insurance and reinsurance premiums of 5.79%.
With this achievement, the Indonesian insurance industry demonstrates promising performance, supported by strong capitalization and sustainable asset growth. This is expected to continue to bolster public trust and contribute positively to the national economy.
Malacca Trust Sets New Record! Gross Premiums Reach Rp 854 Billion
PT Malacca Trust Wuwungan Insurance Tbk (MTWI) successfully demonstrated outstanding performance in the second quarter of 2025. This general insurance company successfully recorded a net profit of Rp. 49.13 billion, jumped 36.01% compared to the same period the previous year.
This success is inseparable from significant increases in various sectors. The company’s gross premiums reachedRp. 854.92 billion, grew 20.35% from the same period last year. Not only that, revenueunderwritingMalacca Trust also skyrocketed to Rp234.90 billion, or up 108.41%.
Malacca Trust Claims and Investments Increase
On the other hand, Malacca Trust also recorded an increase in the claim burden paid to customers, namely Rp. 426.10 billion, nearly double that of the second quarter of 2024. This demonstrates the company’s commitment to fulfilling its obligations to its customers.
Furthermore, the company has also successfully managed its investments. Investment returns in the second quarter of 2025 were recorded at Rp. 14.43 billion, up 10.65% from the previous year. The increase in these various indicators demonstrates that Malacca Trust is on track for sustainable growth.
Source: https://mediaasuransinews.co.id/news-in-brief/asuransi-malacca-trust-raih-laba-bersih-rp4913-miliar/
Get Ready! The Government Will Soon Implement Mandatory Land and Building Insurance, Here’s a Sneak Peek!
The government is currently drafting regulations regarding the programmandatory insurance Third Party Liability (TPL). Based on Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK Law), this program should have begun implementation in 2025.
In response to this, the Indonesian General Insurance Association (AAUI) hopes that the mandatory TPL insurance program can be implemented in the first quarter of 2026 AAUI Chairman Budi Herawan emphasized the importance of optimal outreach and education for the program’s success. He also stated that AAUI will continue to coordinate with ministries and the Indonesian House of Representatives (DPR RI) to prepare for its implementation.
OJK and the Government Collaborate
The Financial Services Authority (OJK) also welcomed the plan. Ogi Prastomiyono, Chief Executive of the OJK’s Insurance, Guarantee, and Pension Fund Supervisory Agency, previously stated that the OJK would push for the establishment of a mandatory TPL insurance policy for motor vehicles this year. Ogi also emphasized the importance of communication with the public and stakeholders to ensure smooth implementation.
In line with this, Iwan Pasila, Deputy Commissioner for Insurance, Guarantee, and Pension Fund Supervision at the Financial Services Authority (OJK), explained that the OJK is still awaiting the issuance of a Government Regulation (PP) from the ministry. The OJK has been involved in discussions with the Ministry of Finance regarding the drafting of this regulation.
Iwan Pasila believes that mandatory TPL insurance serves a very good purpose: protecting the public from various risks. He estimates that the premiums charged will not be too high, thus not burdening the public.
After Three Absences, Will the Former Sinarmas Insurance Commissioner Become a Key Witness in the Taspen Corruption Case?
The Corruption Eradication Commission (KPK) has again summoned Indra Widjaya, the former President Commissioner of PT Asuransi Sinarmas, to testify in the alleged fictitious investment corruption case at PT Taspen. This is the third summons, after Widjaya failed to appear in the previous two summonses.
KPK Spokesperson, Budi Prasetyo, stated that Indra Widjaya’s examination was scheduled at the KPK’s Red and White Building on Monday, August 4, 2025. Previously, Indra Widjaya did not attend the first summons on February 12, 2025, citing illness, and again did not appear on April 15, 2025, without a clear reason.
Other Companies and Officials Also Dragged Into the Case
This case implicates PT Insight Investments Management (IIM) as a corporate suspect. To uncover the roles of various parties, the Corruption Eradication Commission (KPK) has summoned and questioned several witnesses from various companies.
From PT Sinarmas Sekuritas, several high-ranking officials who have been questioned include: Wound (President Commissioner), Julius Sanjaya(Director of Finance and Accounting), Setiawan’s Treasure (ex Associate Director), And Fendy Sutanto (ex Brokerage).
Apart from that, the Corruption Eradication Committee also summoned other names suspected of being involved, such as Edy Soetrisno (President Director of PT Pacific Sekuritas Indonesia), Nelwin Aldriansyah (Finance Director of Pertamina Power Indonesia), and Abdul Rahman Lubis (Head SettlementPT KB Valbury Securities). President Commissioner of PT IIM, The Great Son of Gde Wisnu Wardana, has also been asked for information.
The examination of these witnesses shows that the Corruption Eradication Committee (KPK) continues to try to uncover the corruption network in the fictitious investment case that harmed PT Taspen.
Exciting! BSI and Prudential Syariah Breakthrough, Strengthening the Sharia Economic Ecosystem!
Industry sharia insurance Indonesia’s financial inclusion index has shown a positive growth trend, with annual contributions increasing by 11% over the past seven years. However, there is a significant gap between public interest and access to Islamic insurance products. Data shows that the Islamic financial inclusion index has only reached 13.41%, far below the literacy index of 43.42%.
Answering this challenge, bancassurance is an effective solution for expanding access to sharia insurance. This distribution channel has proven to be a key pillar of the life insurance industry, contributing 39% of total premium income in the first half of 2025.
Seeing this great potential, PT Bank Syariah Indonesia Tbk (BSI) And PT Prudential Sharia Life Assurance (Prudential Syariah)officially strengthened their strategic partnership. This collaboration aims to provide more accessible sharia protection solutions to the public while strengthening the national sharia economic ecosystem.
Bob Tyasika Ananta, Deputy President Director of BSI, welcomed this synergy as the bank’s commitment to accelerate the vision of Golden Indonesia 2045. “As the largest sharia bank with 21 million customers, BSI is present asOne Stop Solution“for comprehensive Islamic financial services, including life and health protection,” he said.
Complete Protection Solutions for Various Needs
The collaboration between BSI and Prudential Syariah offers a variety of protection products suited to every stage of life, from health insurance and life insurance to specialized products such as Hajj and Umrah travel coverage PRUSafar.
Alexander Ezzahuddin, President Director of Prudential Syariah, stated that Prudential is the first global company to establish an independent sharia life insurance entity in Indonesia. Through this partnership with BSI, Prudential Syariah hopes to reach more customers and build stronger trust within the community.
“The bancassurance channel is one of our key pillars, in line with the growing demand for diverse and sharia-compliant protection,” he explained.
The synergy between these two industry leaders not only strengthens the national sharia economy but also reinforces Indonesia’s position as a global hub for sharia finance and the halal industry.
This concludes our summary of seven key and recent news stories in the Indonesian insurance industry. These include the major discourse on state-owned enterprise (SOE) consolidation, industry asset growth trends, and the planned implementation of mandatory TPL (Toll-Free) insurance, which will directly impact both the public and businesses. All of these developments demonstrate that risk protection through insurance is no longer an option but a necessity.
This article was compiled by L&G Insurance Broker, your trusted partner in providing the best insurance solutions for your business. If you need the right insurance coverage, don’t hesitate to contact us Chat or contact us immediately via WhatsApp at 0811-8507-773. We are ready to help you!
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